NRI Taxation

NRI stands for Non - Resident Indian and refers to a citizen of India who holds an indian passport but resides outsides India of India for majority of the year, typically for work or study. NRI may maintain residencies, properties and businesses in India, but their primary residence is outside of India. 

Non Resident Indian Investment have emerged as a significant driving force in facing the trajectory of indian economy.

Various reforms have been implemented to incentivise the NRI investments including the liberlisation of FDI norms and tax incentives for NRI investing in key sectors such as infrastructure, healthcare and manufacturing.

Some important points that NRI should know before starting business in India :

• Legal Structure : Whether it is Partnership, LLP, One person company or Private Limited Company, NRI should decide the appropriate entity structure and plan accordingly.

• Director Identification Number : Director should apply for a DIN and PAN card, which is mandatory for starting a business.

• Taxation System : NRI should be aware of the indian taxation laws and its regulations and Double Taxation Avoidance Agreement between India and other countries.

• Indian Laws : NRIs should have knowledge of local indian laws like companies Act, provisions of FEMA and other applicable laws relevant to business.

• FDI Policy : NRI should be familiar with Foreign Direct Investment policy and its requirements as they should be meet to set up 

• Guidance of Chartered Accountants : NRI should seek guidance from practicing Chartered Accountant in  Gurgaon to ensure compliance with laws and make accurate decisions. 

We are committed to help NRI navigate the complex tax provisions in India including tax planning, wealth appraisal and keep them informed about the changes in tax policies related to Non residents and help them in setting their offices in India. It requires knowledge of various laws when foreign companies approach us and requires guidance in establishing their branches in India.